What Exactly is an Entrepreneur And How Do You Become One Today?

He took a risk, went through the motions of uncertainty and stress, worked a second job to support his family and his business, grew his customer base, hired other mechanics, sold services (auto repair) as well as products (auto parts), and was ultimately accountable for his own success.

Ask him what he does for a living, however, and he won’t tell you he’s an entrepreneur. He’ll say he fixes cars.

Ask him about being his own boss and he’ll say, “When you have your own business, you’re not the boss. You’re an employee.”

But in my eyes he is most definitely an entrepreneur, at least according to the definition you get from a quick Google search:

An entrepreneur is a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

Like my dad, many small business owners don’t embrace their identity as “entrepreneurs”. On the other hand, you probably know someone who wears the title with pride.

Some people exclude those who own side businesses as “real entrepreneurs”. Others talk broadly about entrepreneurs as anyone who starts a new business in any capacity. And let’s not forget the “entrepreneurial tendencies” people can have without owning a business, that many companies today look for in the people they hire.

But is an independent freelancer an entrepreneur? What about a full-time Uber driver? Someone who runs a stall at a fish market? Where do we draw the line, if there is one to draw?

This wide range of interpretations, coupled with all the new ways for people to make money on their own terms, begs the question: What exactly is an “entrepreneur” today?

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What is an “entrepreneur” today?

According to Census Bureau data, from 1978 to 2012 there’s been a more than 44% decrease in new firms being created as a share of total businesses in the United States—the home of the American Dream—a trend that has been interpreted as the decline of entrepreneurship.

Despite that, our overall interest in the "entrepreneur” is still alive and healthy around the world, according to Google Trends.

This is likely due to our evolving interpretation of what an entrepreneur is, one that’s born from new variations and forms of “entrepreneurship”, from the sidepreneur to the infopreneur—emphasizing, above all, the self-starter attitude toward creating value that in turn creates revenue.

So I talked to over 25 “entrepreneurs” from all walks of life—from solopreneurs to tech founders to store owners to creators—to get a range of perspectives on what exactly an entrepreneur is.

What does an entrepreneur do?

“An entrepreneur is someone who prefers a life of boundless uncertainty to that of predictability and chooses to bet on themselves before anyone else.”

“An entrepreneur is someone who has made a conscious decision to choose freedom. This freedom doesn't come easy because being an entrepreneur isn't easy, but it will change your life in every way. Many of us spend years of our lives building someone else's dream and following someone else's rules. As entrepreneurs, we get to choose to work on the things that light us up, that motivate us, and that make a big impact for those around us. As entrepreneurs, we get to spend time with our family when we choose to, go on vacation when we choose to and surround ourselves with the people we choose to.”

“An entrepreneur takes on the risk and seeks to fill a need on her own terms. An entrepreneur doesn't just ‘organize’ a business in my mind, but fuels it, directs it, and creates it. I hesitated to call myself an entrepreneur for a long time because I thought you had to have a Harvard MBA. I was so wrong. Entrepreneurs are scrappy and disruptive, creative and unruly, strategic and unstoppable. Sometimes they make lousy students and difficult employees.”

But a lot of these are what I’d call legacy fears surrounding entrepreneurship—outdated misgivings that have yet to catch up with the technology and platforms that enable us to start things and put plans into motion in ways that weren’t possible before.

A timeline of technology enabling entrepreneurship

In the last 20 years, we’ve seen the emergence of new software, tools and platforms addressing the fears and pain points associated with starting and running a business. And that’s excluding all the other opportunities afforded by social networks and search engines.

Zapier made integrating technology possible without a developer in order to automate workflows.

Canva made it possible for anyone to design the visual assets they need without hiring help.

Kit built a “virtual employee” to take on some of the burden of running a business.

These companies—these entrepreneurs enabling entrepreneurship, of which I’ve only highlighted a handful—have created a world where a business no longer needs to be tied to a particular building, where many of them start and are run from home, on a laptop, in a coffee shop, through a mobile phone, with “employees” around the world.

How people become entrepreneurs today

Considering that “part-time entrepreneurship” is now more common than it once was, it’s no longer necessary for you to quit your job to start building something on the side.

Many Shopify store owners run their businesses part-time, during evenings or on the weekend, eventually going full-time if they choose to. Some have a physical location for their store and others operate entirely online.

Businesses can now exist in a variety of forms that just weren’t possible before. So naturally, people are starting them for a variety of reasons.

You can...

Build a business around selling products and proving value.

Many entrepreneurs identify an opportunity and then capitalize on it. If there’s demand, they become the one with the supply. Being passionate about the product helps but it’s by no means a prerequisite.

All you need is to be passionate about business, competition, and creating systems that create value, either as a side business or something that replaces your 9 to 5.

Build a business around your craft.

The maker applies a specific craft they’ve honed in order to create physical products. Usually a hobby or a past time, they’ve learned how to unearth niche audiences with an interest in owning what they create—whether necklaces, hand-crafted furniture, or scented candles.

This often starts out as a hobby before you find your first customers and decide to become an entrepreneur.

Build a business around providing services.

This group includes agencies, consultants, freelancers and people with skills or expertise that others need. They might start off alone, only able to make money when they work, but they can develop into more if they want.

Build a business around social responsibility.

Some entrepreneurs use business as a means of creating a sustainable living that improves the quality of lives through social enterprise. Outside of profit, the value they seek to create is for those in need.